Condos sales declined 9% over the past year in Miami-Dade … Inventory is down by 30%.

That said though, interestingly enough, condos selling between $300,000 and $999,999 have shown a 32% increase … (Spring 2011 through Spring 2012). And in the $1 million plus range there was an 11% increase in sales.

As far as distressed property is concerned, 4% of the condos currently on the market in Miami-Dade are foreclosures (Foreclosures account for about 1/5 of all sales). Condos selling as short sales account for about 13% of the current inventory and 1/4 of all condo sales in Miami-Dade right now.